Creative Ways to Build a Cash Buyers List

Edmond, OK · Member since 2014 · 34 posts · 5 votes

I am a wholesaler in Oklahoma City. My cash buyers list has hit a plateau recently. Does anyone have any creative suggestions for how to continue to build my cash buyers list?

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Christopher Brainard

Rental Property Investor · Rockwall, TX · Member since 2015 · 891 posts · 701 votes

Originally posted by @Chad Brumley:

I am a wholesaler in Oklahoma City. My cash buyers list has hit a plateau recently. Does anyone have any creative suggestions for how to continue to build my cash buyers list?

The biggest reason most wholesalers find a dwindling list of buyers it that the deals they are presenting lack the returns that investors are looking for. Fortunately, that is a problem that is easily solved by finding better deals.

Investors will always follow the money. If you deliver a constant stream of properties that are a bargain, you can post here or go to REI meetings and get as many buyers as you could possibly want.

-Christopher

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Nathan Letourneau
Investor · Hudson, WI · Member since 2016 · 82 posts · 18 votes
9y
Which methods have you used to build your current list? That would be helpful.
Nathan
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Jose Castillo
Flipper/Rehabber · Springfield, MA · Member since 2016 · 641 posts · 204 votes
9y
The best way is to go to your local REIA meetings and start putting yourself out there!!! Let them know you're new to wholesaling and seeking to learn and network.
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Thomas Barksdale
Haverhill, MA · Member since 2016 · 42 posts · 4 votes
9y
You may be able to place little signs around your neighborhood that states cash buyers wanted & see what that will bring to your door; happy hunting.
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Christopher Brainard
Rental Property Investor · Rockwall, TX · Member since 2015 · 891 posts · 701 votes
9y
Originally posted by @Chad Brumley:

I am a wholesaler in Oklahoma City. My cash buyers list has hit a plateau recently. Does anyone have any creative suggestions for how to continue to build my cash buyers list?
The biggest reason most wholesalers find a dwindling list of buyers it that the deals they are presenting lack the returns that investors are looking for. Fortunately, that is a problem that is easily solved by finding better deals.
Investors will always follow the money. If you deliver a constant stream of properties that are a bargain, you can post here or go to REI meetings and get as many buyers as you could possibly want.
-Christopher
2 Reply
Jose Castillo
Flipper/Rehabber · Springfield, MA · Member since 2016 · 641 posts · 204 votes
9y
Cash Buyers are always in REIA meetings! Plus you won't have to post up signs stating you have a property for sale when you actually don't! Reputation is everything in this business. It's Key!!
1 Reply
Jose Flores
Real Estate Investor · Buffalo, NY · Member since 2013 · 227 posts · 318 votes
9y
Hey @Chad Brumley Auctions are by far my favorite way of finding high quality cash buyers. There are two types of auctions that you want to attend. First, are on-site house auctions. Heres how is works. Sellers often hire a auction company, which advertises the property for sale and typically hosts maybe one open house to show off the home. Then the property goes up for sale on auction day. On auction day investors gather at the house, walk through it one more time and then the house is auctioned off to the highest bidder. Now the terms at these auctions are usually $5,000 Deposit in Cash or Certified Funds due the day of auction; balance to 10% due within 5 business days, and Close in 30 days. Everything sold “As Is, Where Is.” No warranty or guarantee is expressed or implied. All sales are final. The reason I want to go over these terms with you is because they give us insight into who the buyers are. One thing we know is that they are cash buyers because that need to have a 5k deposit, the balance or 10% within 5 business days and be able to close within 30 days. In addition to them having money they purchase property “AS IS”. This means that they have the resources and means to complete the repairs and they are experienced enough to determine rehab cost without hundreds other people being involved. The less people you need to take to your wholesale deals the better. This is your ideal buyer. The second type of auctions I want you to attend are building material auctions. These auctions sell everything you can think of related to houses. Doors, hardwood floors, titles, tools, windows, appliances, kitchen cabinets, counter tops, and much more. These auctions are filled with landlords and rehabbers. They are there purchasing materials at wholesale prices so why won’t they want to buy houses at wholesale prices. Hope this helps.
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Flerida Santana Johnas
Wholesaler · Stamford, NY · Member since 2016 · 4 posts · 4 votes
9y
Jose, excellent. We must connect.
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Milton Vickers
Wholesaler · Upper Marlboro, MD · Member since 2010 · 7 posts · 0 votes
9y
Excellent idea...I will add this to my current finding cash buyers strategy.
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Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
9y
@Jose Flores being a cash buyer and an auction buyer.. I would also add that this can be a good method.. however you will want to hone in on ONLY those that actually bid or buy..
Auctions for real estate will almost always have a few REAL bidders the rest are newbies coming to check it out and would be a waste of time for most folks.. So when you see 30 people standing around a foreclosure auction maybe 5 are for real... so watch for the one's that actually buy something.
As a buyer I would not engage with anyone who approached me there asking to put me on their list.. But that's just me.. I have no interest in that and am busy following the auctions that can move quite quickly.. then I need to pay and move on.. But it can be quite social there as well.. depends on the setting.
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Ian Godfrey
Atlanta, GA · Member since 2011 · 30 posts · 11 votes
9y
Great idea @Jose Flores but how can this be implanted if you have free and clear homes out of state in another city like Pittsburgh? Can a person find out who the cash buyers are for other states and cities?
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Ian Godfrey
Atlanta, GA · Member since 2011 · 30 posts · 11 votes
9y
Interesting take @Jay Hinrichs. But how do you as a cash buyer get notified of the deals you want? Are you resisted with an action company and you are alerted or, are you sent a calendar invite? I am interested in finding out how cash buyers are getting their deals! Thanks
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Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
9y
I get mine from sheriffs sales trustee sales.. MLS auction .com hubzu HUD and OREO RE brokers who know me as a for real buyer.. I rarely if ever deal with wholesalers... some of my folks that I fund their business do deal with wholesalers but not me personally.. I will get approached by a few here in Oregon nice folks and if its convenient will go look.. but I have had others who would not give me the address etc etc.. and I find those a big waste so I simply do not deal with them anymore unless of course someone has really made an effort to make my acquaintance and I took a particular liking to them.
I get letters from many all over the country because we buy in 12 states.. but they just go in the garbage.. too many newbies to waste my time with.. And what they think is a deal and reality are usually two very different things...
I like Auction.com because you need 2500 to bid and generally need 5k in EM within 24 hours.. and you have to have real POF and you have to take title in the name of the company that made the offer.. so this keeps the wholesalers at bay pretty much all the time.. and allows us direct access so I am only competing with others that have wherewithal to buy not just some wholesaler that ties something up trying to flip it..
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Deborah BurianPro Member
Rental Property Investor · Oklahoma City, OK · Member since 2013 · 1k+ posts · 412 votes
9y
Give me a shout. I'm in Oklahoma City and while not buying a lot right now, do have the cash for deals that suit. Basic guidelines - Northwest Oklahoma City, roughly Council to Walker, 10th to 50th, will go a bit further for the right deal. 900 sf or larger, min 2 bed, condition must be accurately reflected in price. If the zip is 73107, you're in my prime 'hood.
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David Bokman
Real Estate Investor/Wholesaler · Philadelphia, PA · Member since 2015 · 757 posts · 318 votes
9y
What are you currently doing every single day to try and grow that list? And how long have you been at it? Without information like that it's hard to answer general questions. The best way to build a buyers list that nevers stops growing is to never stop marketing and also have good quality deals.
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Kyle Critchnau
Owasso, OK · Member since 2014 · 113 posts · 43 votes
9y
Do you have any deals right now? I found when starting out that the best way to find buyers was to post deals on Craigslist, here in the Marketplace, anywhere I could and cash buyers would come out of the woodwork.
There are two schools of thought on buyers lists, one says you need buyers before you can find deals, the other says find a good deal and the buyers will follow. I'm living proof of the second.
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